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What is a Lease Purchase?
What is a LEASE PURCHASE? Also called a Rent-to-Own, or a Lease Option, it is simply an agreement between a seller and a buyer, where the tenant/buyer agrees to rent the property for a specified amount of time and have the right to purchase it at the end, or during, the lease term. Often, the lease purchase allows the tenant/buyer to have a portion of the rent go towards the purchase price of the home.
How is this way of selling or purchasing a home beneficial? It's a benefit to both parties when it comes to a lease to own. The seller immediately opens the floodgates when they decide to lease purchase their property. So many buyers are tired of giving their hard-earned money away to a landlord and would rather have their money working towards their dream: to purchase a home. Also, sellers quickly have someone in the home covering the owner's expenses and have tenants who truly care about the property, because very soon it will be theirs!! There are so many more benefits that will be explained below, but the bottom line is that the lease purchase is for people who like options, not the same old selling methods.
If you are trying to sell your home, this is why lease purchasing makes sense:
Our business is based on a win/win philosophy. Everyone should win in a real estate transaction. What the seller is getting:
-Top sales price for their property
-Large available market of buyers
-Better quality tenant
-Market or above market rents
-No day to day maintenance
-Seller remains on deed
-Seller retains tax benefits
-No real estate commissions (immediately saving 3-6%)
-No management headaches
-Professional guidance from the best in the business
Contact us for a free consultation on how we can best serve your needs, either as buyers for your property or as consultants to help you through the process.
If you are trying to purchase a home, this is why intelligent buyers choose lease purchasing:
In these turbulent real estate times, it can be difficult to secure financing the old-fashioned way. Find a real estate agent to drag you around to open houses, come up with a whopping 20-30% down, then cross your fingers and hope that your credit is perfect and there are no problems with the close. Also hope that the seller is true to their word. Lease purchase is the way of the intelligent buyer for a number of reasons:
-Low down payment
-Rent money is working for you
-Option consideration is credited to the purchase price
-Price is locked in (a plus in an appreciating market)
-Time to see if this is truly the home of your dreams
-Time to check out the neighborhood
-Time to obtain the best financing available
-Control of your future
-No property taxes
Here at James Consulting Group we constantly strive to accomplish a level of service and professionalism unparalleled in the business. For a free, no obligation consultation, contact us at the number below. We are real people who answer the phone and try to find real solutions. We specialize in the San Francisco Bay Area, Sacramento Valley, and the San Diego Counties.
How is this way of selling or purchasing a home beneficial? It's a benefit to both parties when it comes to a lease to own. The seller immediately opens the floodgates when they decide to lease purchase their property. So many buyers are tired of giving their hard-earned money away to a landlord and would rather have their money working towards their dream: to purchase a home. Also, sellers quickly have someone in the home covering the owner's expenses and have tenants who truly care about the property, because very soon it will be theirs!! There are so many more benefits that will be explained below, but the bottom line is that the lease purchase is for people who like options, not the same old selling methods.
If you are trying to sell your home, this is why lease purchasing makes sense:
Our business is based on a win/win philosophy. Everyone should win in a real estate transaction. What the seller is getting:
-Top sales price for their property
-Large available market of buyers
-Better quality tenant
-Market or above market rents
-No day to day maintenance
-Seller remains on deed
-Seller retains tax benefits
-No real estate commissions (immediately saving 3-6%)
-No management headaches
-Professional guidance from the best in the business
Contact us for a free consultation on how we can best serve your needs, either as buyers for your property or as consultants to help you through the process.
If you are trying to purchase a home, this is why intelligent buyers choose lease purchasing:
In these turbulent real estate times, it can be difficult to secure financing the old-fashioned way. Find a real estate agent to drag you around to open houses, come up with a whopping 20-30% down, then cross your fingers and hope that your credit is perfect and there are no problems with the close. Also hope that the seller is true to their word. Lease purchase is the way of the intelligent buyer for a number of reasons:
-Low down payment
-Rent money is working for you
-Option consideration is credited to the purchase price
-Price is locked in (a plus in an appreciating market)
-Time to see if this is truly the home of your dreams
-Time to check out the neighborhood
-Time to obtain the best financing available
-Control of your future
-No property taxes
Here at James Consulting Group we constantly strive to accomplish a level of service and professionalism unparalleled in the business. For a free, no obligation consultation, contact us at the number below. We are real people who answer the phone and try to find real solutions. We specialize in the San Francisco Bay Area, Sacramento Valley, and the San Diego Counties.
Contents at a Glance
Featured Properties
Get 'em while they're available
$1600 per month 50% rent credits 2 year lease to own2% option consideration2 ...
$1500 per month 50% rent credits 2 year lease to own1.8% option consideration...
$1950 per month 50% rent credits 2-3 year lease to own3.4% option consideration...
$2200 per month 50% rent credits 2-3 year lease to own2.4% option consideration...
Lease Purchasing in a Bear Market
Well, December is behind us and the holiday fog has lifted. We rang in the New Year and hoped that 2008 would be better than 2007 in real estate. Unfortunately, 2008 started out with a rude slap in the face. The stock market is off to a dismal start, the dollar continues to trend downward and most real estate professionals project the housing market to hit the trough this year as more adjustable rate mortgages reset within the next two years. What everyone's asking is: where is the bottom to the market? There are many factors affecting the residential housing market, which are too long and involved for a newsletter, but a few of the basics include: high foreclosure rate, high inventory rate due to skeptical buyers, and tightening credit standards. In this crazy financial environment, what is one to do for their family and the dream of owning a home?Lease purchasing allows families to build equity in a home while waiting out the uncertainty of the housing market. Imagine controlling a property and building equity, but not having to worry about a slumping housing market. Lease purchasing gives you the option of checking out the home, the neighborhood, and your neighbors before taking the big plunge into the housing market. If the market goes south, you don't get hurt; but if the market appreciates within your lease term, you have the price of the home locked in and have built equity in a home that is suddenly worth more than what you could buy it for. Talk about control over your future!
Let's take a hypothetical situation. Say you find a beautiful lease purchase home for $2000 per month rent, with 50% rent credits applicable towards the purchase price of the home. It's a two year lease and the purchase price is locked in at $500,000. It's only 3% to get into the home instead of the traditional 10-20% and it is also applicable towards the purchase price. This is how it will look.
Selling price: $500,000
Rent credits: $24,000
Option consideration: $15,000
Purchase price: $461,000
So instead of throwing away $48,000 in rents for the past two years, you've built equity in a great home in a great neighborhood. Now let's add in a conservative 5% annual appreciation, and suddenly you're buying a home for $461,000 that is actually worth around $550,000!
Now, instead of appreciation, what if the bottom drops out of the market and housing declines for another two years (which isn't likely)? You haven't been hurt at all! In fact, maybe you saved even more money by not being dragged to the bottom of the housing pit of despair. Either way you have the CONTROL and you get the opportunity to make intelligent decision based on the current market trends.
So bear market or bull market, who cares? You can sit back, relax, and smile, knowing that you hold the key to your financial future. Furthermore you can make intelligent decisions for your family, on your terms and your time. Now if they only allowed you to buy stocks on a lease purchase...
Rent To Own Websites
- Rent To Own Bay Area
- Our website for James Consulting Group
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by Cyclelogical
A Rent To Own, Lease Option, or Lease purchase home is merely a standard lease situation with the option to purchase the property within, or at the en... (more)
